Juventas Therapeutics, Inc., a Cleveland, OH-based clinical-stage biotechnology company focused on developing non-viral gene therapies to treat advanced cardiovascular diseases, secured $13.5m in financing.
Green Cross Holdings and Posco Capital led a $7.5m Series B-2 equity investment that included participation from other new and existing investors. Additionally, Juventas secured $6m in debt financing from Oxford Finance with an opportunity to obtain an additional $9m if specific milestones are met.
Juventas Therapeutics also expanded its Board of Directors to include James Boland as an independent director. Mr. Boland is the retired vice chairman of Ernst & Young and former president, chief executive officer and vice chairman of the Cleveland Cavaliers Operating Company. He currently serves as Chairman of JobsOhio and is on the Board of the Center for Global Business Studies in Washington D.C.
Founded in 2007 and led by Rahul Aras, Ph.D., president and chief executive officer, Juventas is a clinical stage biotechnology company focused on developing non-viral gene therapies to treat advanced cardiovascular diseases. Its lead product candidate, JVS-100, is a non-viral gene therapy undergoing evaluation in clinical studies for the treatment of advanced cardiovascular diseases. with an exclusive license from the Cleveland Clinic.